Tips for Multi Family OOS

[Fernando E.]

Hey BP community,

I’m doing my due diligence on multi family investment out of state listening to some of the best guest in BP episodes like Paul Moore. I also picked

up Beardy Brandon’s Multi Family real estate books 📚 and other materials. Any advices or things to watch out for is much appreciated. Im looking into path of progress state like Arizona and Florida. Thanks all!

[Doug McVinua]

@Fernando E. I operate as a Broker and a Property Manager of Multi-Family in the Phoenix, AZ market. We have owners with multi-family in Chandler AZ, Phoenix, Mesa AZ, Apache Junction AZ, Arizona City AZ, and others.

Much of what we manage in the Multi-Family sector is B-C property. After 24 years of real estate, we have sure learned plenty of things to do and some things not to do lol

I have really grown to like multi-family as the cash flow is always flowing, unlike single-family. We have owners that have done upgrades/remodels and with multi-family we can typically do that unit by unit, increasing the rents at the same time to make the numbers great in a fairly short period of time. By staggering the remodel/upgrades we always have cash flow in multi-family.

Yes, I see pit-falls in multi-family. It's not all roses, mistakes are possible, you can buy the wrong building, etc.

Not sure of your questions? Happy to engage and offer my experiences if it would be of any help?